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Question 4. | The following summary data output presents a multiple regression model that attempts to estimate price of an oven as an outcome of
Question 4. | The following summary data output presents a multiple regression model that attempts to estimate price of an oven as an outcome of three variables: 1. Burners (number of burners), 2. Type (0 2 Commercial, 1 2 Residential), and 3. Grade (0 = Lower grade, 1 2 Higher grade). Use the below output to answer the following: Regression Statistics Multiple R 0.680 R Square 46.24% Adjusted R Square 48.20% Standard Error 633.913 Observations 200 SS MS Significance F Regression 870748852 623582951 48.12 0.002 Residual 6903021.63 188280.72 Total 561051016 Coefcients Standard Error tStat P-vaiue Lower 95% Upper 95 % 000 OED Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Intercept 477.762 209.744 28.278 0.000 66.664 888.859 Burners 273.400 16.231 9.287 0.000 241.588 305.212 Type -1248.210 610.789 3.276 0.002 -2445.357 -51.063 Grade 458.310 110.562 1.867 0.033 241.609 675.011
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